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August 12, 2026
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Prepaid plan restructuring eliminates mid-tier daily-data options and channels subscribers toward higher-priced plans with expanded data access.
Bharti Airtel has discontinued prepaid plans combining 1.5 GB daily data allowances with unlimited calling, directing subscribers towards higher-priced plans with expanded data access, including unlimited 5G data. The restructuring reduces low-priced unlimited-data offerings and changes the pricing architecture for customers using discontinued mid-tier plans. Management links tariff repair to differentiated mobile-plan categories and sustained average revenue per user growth.
August 12, 2026
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Insolvency professional conduct faces money-laundering allegations over re-admitted claims, creditor committee changes, and a connected resolution applicant.
Enforcement action under the Prevention of Money Laundering Act concerns allegations that an insolvency professional re-admitted claims earlier rejected as spurious and fraudulent during the Corporate Insolvency Resolution Process. The alleged re-admission altered the Committee of Creditors' composition and facilitated consideration of a resolution plan allegedly submitted for, and funded through an entity controlled by, a company promoter under investigation for diversion of bank-loan funds. Adverse findings reportedly included acting beyond authority by relying on fabricated and improperly submitted material.
August 12, 2026
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Identity document forgery allegations prompt investigation into fraudulent Aadhaar updates and falsified government and educational certificates.
Alleged forgery and misuse of identity-related records are under investigation following operations at Aadhaar centres. Seized materials reportedly include forged birth, educational, residence, caste and citizenship certificates, records bearing forged signatures and seals, and equipment used for Aadhaar updates. Four persons were arrested in two operations for allegedly preparing forged records and using them to update Aadhaar cards. Cases have been registered under relevant provisions of the Bharatiya Nyay Sanhita, with investigation continuing into the extent of the alleged network.
August 12, 2026
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Holding-company governance succession follows leadership departure, requiring transition planning amid unresolved strategy, capital allocation, board representation and listing questions.
Tata Sons' leadership succession and governance framework have become central following the chairman's decision not to seek reappointment when his term ends in February 2027. The board has been asked to decide on a successor promptly. Unresolved matters include the strategic roadmap, losses and capital requirements in newer businesses, board representation, capital allocation, an exit route for the Shapoorji Pallonji Group, and the possible listing of Tata Sons. Future leadership must manage these issues while improving returns from investment-intensive businesses and maintaining established operations.
August 12, 2026
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Interest-rate regulation for loans and advances proposes harmonised fixed and floating loan-pricing principles across regulated entities.
Interest-rate regulation for loans and advances is proposed to be harmonised across all regulated entities through a principles-based framework for fixed-rate and floating-rate loans. The framework would be calibrated to each entity's nature, complexity and scale, while supporting monetary policy transmission, credit-risk-based pricing, and fair, non-discriminatory borrower treatment. It addresses divergent commercial-bank practices in determining the marginal cost of funds-based lending rate and its components, alongside limited regulatory coverage of fixed-rate loans. Separate final directions are intended for each category of regulated entity after consideration of feedback.
August 12, 2026
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Elevated crude oil prices and Tata leadership transition drove broad equity market selling amid inflation concerns.
Indian equity markets declined amid elevated crude oil prices, inflation concerns and broad risk-off selling. Tata Group shares, particularly TCS, came under pressure after N. Chandrasekaran announced that he would not seek reappointment as Tata Sons Chairman when his current term ends. Crude oil prices approaching the USD 90-per-barrel level affected investor confidence because of potential inflationary effects, while uncertainty over United States-Iran negotiations and Strait of Hormuz shipping disruptions added to global energy market concerns.
August 12, 2026
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Trade sovereignty and energy security underpin calls to resist tariff pressure and protect sensitive sectors in bilateral negotiations.
Trade sovereignty and energy security are advanced as grounds for resisting tariff pressure linked to Indian purchases of Russian crude. Bilateral trade negotiations should proceed through equality, reciprocity and mutual respect without compromising agriculture, dairy, energy security or strategic autonomy. Concerns are also raised over removal of e-commerce inventory restrictions for foreign direct investment and over proposed Merchant Discount Rate charges on UPI transactions. Withdrawal of the inventory measure and opposition to payment-provider charges are urged, alongside possible restrictions on United States technology and social-media companies and consumer boycotts of American goods and services.
August 12, 2026
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Fair trading practices and circular production are promoted to strengthen Make in India and expand global market participation.
Trade and industrial policy messaging encourages businesses to digitise operations, adopt good manufacturing practices, follow fair trading practices, and promote recycling, reuse and a circular economy. Nine free trade agreements are identified as creating preferential market-access opportunities for Indian industry and businesses. MSMEs, entrepreneurs, farmers, fishermen, workers and the services sector are encouraged to expand Indian products and services globally, improve competitiveness through scale, and strengthen the quality, design and brand value associated with Make in India.
August 12, 2026
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Private capital mobilisation requires credible long-term frameworks, risk-sharing mechanisms, and multilateral partnerships to strengthen infrastructure investment.
Private capital mobilisation in infrastructure and development finance depends on credible long-term frameworks, investor confidence, project bankability, and balanced risk allocation. Public capital is intended to catalyse rather than replace private investment. Key financing mechanisms include Viability Gap Funding, the Hybrid Annuity Model, credit enhancement, and Infrastructure Investment Trusts. Long-term investment visibility and coordinated connectivity are supported through the National Infrastructure Pipeline and PM Gati Shakti framework, alongside investment measures for freight, rail, waterways, and coastal cargo.
August 12, 2026
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Judicial allowance exemptions under the new tax regime remain disputed, with return processing and resulting demands kept in abeyance.
Tax treatment of specified judicial allowances under the new income-tax regime is disputed. Statutory service-condition provisions are asserted to exclude allowances, including official residence, conveyance, sumptuary allowance and leave travel concession, from income computation and to override the Income-tax Act. Pending consideration, affected judges may show these amounts as receipts not in the nature of income, and their returns are not to be processed further. Any resulting demand remains in abeyance, while refundable amounts are withheld subject to the pending proceedings.
August 12, 2026
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Corporate closure data highlights worker-claim treatment through insolvency adjudication and liquidation priority, while affected-worker information remains unmaintained.
Corporate closure data recorded 36,211 private companies in Maharashtra as liquidated, dissolved or struck off during the preceding five financial years. Central information is not maintained on workers affected by closures or special rehabilitation packages. In corporate insolvency resolution, employee and worker claims are adjudicated under orders of the adjudicating authority. In winding-up or liquidation, the liquidator deals with pending wages and other admissible statutory dues, subject to available funds and the statutory order of priority.
August 12, 2026
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Compressed biogas development converts organic waste into cleaner fuel, rural income and reduced dependence on imported fossil fuels.
CBG development is presented as a route for converting agricultural and organic waste into biomethane, bio-fertiliser and briquettes while reducing fossil-fuel imports, crop-residue burning and waste-management burdens. NexGen Energia's asset-light land-partner model uses landowner-provided sites while the company designs, installs and operates plants, including gas upgrading and offtake logistics. Anaerobic digestion and alternative gas-purification technologies support use of agricultural residue, food waste, manure and distillery effluent. Expansion is linked to the GOBARdhan National Circular Bioenergy Scheme, despite capital, feedstock-aggregation and commissioning constraints.
August 12, 2026
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Bilateral trade cooperation advances through investment focal points, services and health working groups, and planned preferential trade agreement negotiations.
India-Namibia economic cooperation is being progressed through agreed follow-up mechanisms focused on value addition, investment facilitation and sectoral collaboration. Investment focal points have been designated, and a Services Working Group is to prepare a work plan for the Joint Trade Committee. Priority areas include health and pharmaceuticals, critical-mineral processing, gems and jewellery, digital payments, FinTech, railways, renewable energy and green hydrogen. Terms of Reference for the India-SACU preferential trade agreement were finalised, with negotiations to begin after signature and conclude within one year.
August 12, 2026
Show AI Summary
AI governance in banking requires explainability, board accountability, rigorous testing, vendor controls and meaningful human oversight for customer-facing decisions.
AI adoption in banking should be governed through a principles-based and proportionate framework that aligns innovation with financial stability, customer protection and accountability. Banks should maintain inventories of AI systems, adopt board-approved governance policies, ensure explainability for material lending and fraud decisions, conduct periodic red-teaming and stress testing, and preserve meaningful human oversight. Key risks include opacity, bias, vendor concentration, third-party dependence, data misuse, cyber vulnerability and loss of institutional accountability. Vendor arrangements require audit and explanation rights and credible exit plans.
August 11, 2026
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Land acquisition funding and regulatory approvals advance satellite-city development, tax relief, identity enrolment, employment verification, and jail reform.
Assam Cabinet approvals include first-phase funding for land acquisition and development of the Aerotropolis Satellite City Project and a lease deed for a hotel supporting the Jagiroad semiconductor ecosystem. Measures also provide Aadhaar enrolment relaxation for Moran and Matak communities, zero agricultural tax up to the prescribed net-income threshold, OBC Non-Creamy Layer certificates, and trainee and graduate-assistance funding. Government jobs will be provisionally held pending police verification, with automatic confirmation where no report is submitted within six months. Jail rules will be amended to promote non-discrimination, sanitation, security and fair work allocation.
August 11, 2026
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Money-laundering investigation into alleged liquor-sale proceeds led to arrest and custodial questioning amid contested political allegations.
Money-laundering investigation concerning an alleged liquor scam led to the Enforcement Directorate's arrest of Ramgopal Agrawal and seven days' custodial remand under the Prevention of Money Laundering Act. The agency alleged his connection with proceeds of crime, non-attendance despite multiple summonses, and evasiveness during questioning. Allegations concern purported control of the state excise department, illegal liquor sales, and sharing of commissions. The Congress has denied the allegations and described the investigation as politically motivated.
August 11, 2026
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GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law.
Alleged bribery in GST inquiry closure led to the arrest of a Sales Tax Assistant Commissioner after a scrap trader complained of a demand for illegal gratification to close an inquiry initiated through a GST show-cause notice. Anti-corruption officials reportedly verified the allegation through intermediaries, during which the officer allegedly agreed to accept payment for closing the matter. A criminal case was registered under the Prevention of Corruption Act, with further investigation ongoing.
August 11, 2026
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Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances.
Net direct tax collections increased by 23 per cent to over Rs 8.11 lakh crore through August 10, driven by higher non-corporate tax collections and slower refund growth. Gross direct tax collections grew by 19.75 per cent to about Rs 9.55 lakh crore. Net corporate tax collections rose about 20 per cent, net non-corporate tax collections rose 23 per cent, and Securities Transaction Tax collections increased 51 per cent. Refund issuances grew by 3.8 per cent year-on-year.
August 11, 2026
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Vicarious liability in cheque dishonour cases cannot attach to trust associates without statutory status or transaction-specific involvement.
Vicarious criminal liability for cheque dishonour under section 141 of the Negotiable Instruments Act does not extend to a trust, because a trust is not a juristic person. A person cannot be summoned merely for alleged active involvement in a trust where the person was neither drawer nor signatory of the cheques, trustee, office-bearer, authorised account operator, guarantor, or executor of transaction documents.
August 11, 2026
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Cross-border payment integration through CBDCs and fast payment systems remains under BRICS discussion to reduce transfer costs.
Cross-border payment integration is under discussion through potential linkages between central bank digital currencies and fast payment systems, including UPI-type platforms. These approaches seek faster and less costly trade and remittance transfers, particularly retail payments, but remain at a discussion stage. Rupee internationalisation is also being pursued through central-bank memorandums of understanding for bilateral trade settlement in local currencies, with existing arrangements covering Indonesia, Maldives, Mauritius and the UAE.

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Customs & Trade

As US hunger rises, Trump administration’s ‘efficiency’ goals cause massive food waste

December 1, 2025

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Washington, Dec 1 (The Conversation) The US government has caused massive food waste during President Donald Trump’s second term. Policies such as immigration raids, tariff changes and temporary and permanent cuts to food assistance programmes have left farmers short of workers and money, food rotting in fields and warehouses, and millions of Americans hungry.

And that doesn’t even include the administration’s actual destruction of edible food.

The US government estimates that more than 47 million people in America don’t have enough food to eat – even with federal and state governments spending hundreds of billions of dollars a year on programmes to help them.

Yet, huge amounts of food – on average in the US, as much as 40% of it – rots before being eaten. That amount is equivalent to 120 billion meals a year: more than twice as many meals as would be needed to feed those 47 million hungry Americans three times a day for an entire year.

This colossal waste has enormous economic costs and renders useless all the water and resources used to grow the food. In addition, as it rots, the wasted food emits in the US alone over 4 million metric tons of methane – a heat-trapping greenhouse gas.

As a scholar of wasted food, I have watched this problem worsen since Trump began his second term in January 2025. Despite this administration’s claim of streamlining the government to make its operations more efficient, a range of recent federal policies have, in fact, exacerbated food wastage.

Immigration policy Supplying fresh foods, such as fruits, vegetables and dairy, requires skilled workers on tight timelines to ensure ripeness, freshness and high quality.

The Trump administration’s widespread efforts to arrest and deport immigrants have sent Immigration and Customs Enforcement, the Border Patrol and other agencies into hundreds of agricultural fields, meat processing plants and food production and distribution sites. Supported by billions of taxpayer dollars, they have arrested thousands of food workers and farmworkers – with lethal consequences at times.

Dozens of raids have not only violated immigrants’ human rights and torn families apart: They have jeopardized the national food supply. Farmworkers already work physically hard jobs for low wages. In legitimate fear for their lives and liberty, reports indicate that in some places 70% of people harvesting, processing and distributing food stopped showing up to work by mid-2025.

News reports have identified many instances where crops have been left to rot in abandoned fields. Even the US Department of Labour declared in October 2025 that aggressive farm raids drive farmworkers into hiding, leave substantial amounts of food unharvested and thus pose a “risk of supply shock-induced food shortages”.

Foreign aid cuts When the Trump administration all but shut down the US Agency for International Development in early 2025, the agency had 500 tons of ready-to-eat, high-energy biscuits worth US$800,000, stored to distribute to starving people around the world who had been displaced by violence or natural disasters. With no staff to distribute the biscuits, they expired while sitting in a warehouse in Dubai.

Incinerating the out-of-date biscuits reportedly cost an additional $125,000.

An additional 70,000 tons of USAID food aid may also have been destroyed.

Tariffs In the late 20th century, as globalised trade patterns grew, US farmers struggled with agricultural prices below their production costs. Yet tariffs in the first Trump administration did not protect small farms.

And the tariffs imposed in early 2025, after Trump regained the White House, severed US soybean trade with China for months. Meanwhile, there’s nowhere to store the mountains of soybeans. An October 2025 agreement may resume some activity, but at lower price levels and a slower pace than before, as China looks to Brazil and Argentina to meet its vast demand.

Though the soybeans were intended to feed the Chinese pig industry, not humans, the spectre of waste looms both in terms of the potential spoilage of soybeans and the actual human food that could have been grown in their place.

Other efforts lead to more waste Since taking office, the second Trump administration has taken many steps aimed at efficiency that actually boosted food waste. Mass firings of food safety personnel risks even more outbreaks of foodborne diseases, tainted imports, and agricultural pathogens – which can erupt into crises requiring mass destruction, for instance, of nearly 35,000 turkeys with bird flu in Utah.

In addition, the administration cancelled a popular programme that helped schools and food banks buy food from local farmers, though many of the crops had already been planted when the cancellation announcement was made. That food had to find new buyers or risk being wasted, too. And the farmers were unable to count on a key revenue source to keep their farms afloat.

Also, the administration slashed funding for the Federal Emergency Management Agency that helped food producers, restaurants and households recover from disasters – including restoring power to food-storage refrigeration.

The fall 2025 government shutdown left the government’s major food aid programme, SNAP, in limbo for weeks, derailing communities’ ability to meet their basic needs. Grocers, who benefit substantially from SNAP funds, announced discounts for SNAP recipients – to help them afford food and to keep food supplies moving before they rotted. The Department of Agriculture ordered them not to, saying SNAP customers must pay the same prices as other customers.

Food waste did not start with the Trump administration. But the administration’s policies – though they claim to be seeking efficiency – have compounded voluminous waste at a time of growing need. This Thanksgiving, think about wasted food – as a problem, and as a symptom of larger problems. (The Conversation) SCY SCY

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